Business
Legend's SmartGATE Chosen by Greater Toronto Area Region to Improve Energy Efficiency and Economics for its Commercial Buildings
VANCOUVER, BC / ACCESSWIRE / November 18, 2020 / Legend Power® Systems (TSXV:LPS) a glo...
About this update from Legend Power Systems Inc.
[{"type":"text","content":"Legend's SmartGATE Chosen by Greater Toronto Area Region to Improve Energy Efficiency and Economics for its Commercial BuildingsVANCOUVER, BC / ACCESSWIRE / November 18, 2020 / Legend Power® Systems (TSXV:LPS) a global leader in commercial electrical system solutions, today announced that the Region of Peel in Ontario, Canada will invest in SmartGATE Platforms for four of its low-income multi-residential buildings.After completing an initial pilot with Legend, the Region of Peel is now implementing SmartGATE as a standardized solution that can be deployed across their building portfolio to make achieving their sustainability targets easy. Over the anticipated lifespan of the solution these four sites are expected to save:352 tons of carbon emissions$900,000 of energy costs8,100,000 kwhPeel is known as a leader amongst their municipal peers, several of which in Ontario are investigating opportunities to deploy SmartGATE solutions within their portfolios.Q4 F2020 Revenue GuidanceBased on preliminary results, the Company anticipates revenue for the three months ended September 30, 2020 to be between $350,000 and $400,000 compared with $485,543 in the same period of fiscal 2019. During Q4 of F2020, the Company's major markets began to reopen, and Q4 revenue guidance supports this assessment. Since quarter-end this momentum has continued across all geographies and end markets.About SmartGATE SmartGATE is an industry-leading, turnkey solution, which identifies and fixes underperformance and waste in the electrical system of a commercial building. These performance issues often impact key areas of commercial real estate metrics including occupant safety and satisfaction and financial performance. This waste can also lead to higher operating costs, lower net operating income and other potential financial risks to the building owner, including damaged tenant experience.About Legend Power® Systems Inc.Legend Power® Systems Inc. (www.legendpower.com) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend's proven solutions support proactive executive decision-making in a complex and volatile business and energy environment.For further information, please contact:Steve VanryCFO+ 1 604 671 9522svanry@le...